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Oh, a lot of them did. Many of those can only be described as religious cult followers - practitioners of Elliott Wave "Theory". Some even went as far as accus
by borism 16y ago
Oh, a lot of them did. Many of those can only be described as religious cult followers - practitioners of Elliott Wave "Theory".
Some even went as far as accusing Mandelbrot of plagiarizing Elliott's work: http://www.math.utah.edu/vigre/reu/reports/harris_fall2005.pdf http://www.math.utah.edu/vigre/reu/reports/harris_fall2005.p...
- ANH 16y agoI've read some of Mandelbrot's works on finance and I would never put him in the same category as the "technicians". It's hocus pocus mumbo jumbo that I don't think he would subscribe to (e.g. Elliot Wave's "5 up, 3 down" principle).
- SkyMarshal 16y agoAgreed. And finance was never the primary objective of Mandelbrot's development of fractals anyway, just a side effect of varying degrees of interest. Elliot Wave appears to be an attempt to back fit a rather simplistic theory to patterns in financial time series data. Fractals are so much more.